Stoneridge Investment Partners LLC bought a new equity position in NVIDIA Co. (NASDAQ: NVDA – Free report) in the first quarter, according to its latest filing with the Securities and Exchange Commission. The institutional investor bought 3,112 shares of the hardware maker, valued at around $864,000.
A number of other institutional investors have also recently increased or reduced their stake in the company. Opal Wealth Advisors LLC increased its position in NVIDIA by 1.8% in the 1st quarter. Opal Wealth Advisors LLC now owns 2,103 shares of the hardware maker worth $584,000 after buying 37 additional shares during the period. Westhampton Capital LLC increased its stake in NVIDIA by 0.7% in the 1st quarter. Westhampton Capital LLC now owns 5,545 shares of the hardware maker worth $1,540,000 after buying 40 more shares last quarter. Naples Global Advisors LLC increased its stake in NVIDIA by 1.0% in Q1. Naples Global Advisors LLC now owns 4,309 shares of the hardware maker worth $1,197,000 after buying 42 more shares last quarter. Tradewinds Capital Management LLC increased its stake in NVIDIA by 15.8% in the 1st quarter. Tradewinds Capital Management LLC now owns 329 shares of the hardware maker worth $91,000 after buying 45 more shares last quarter. Finally, Northstar Asset Management LLC increased its stake in NVIDIA by 0.9% in the 1st quarter. Northstar Asset Management LLC now owns 5,225 shares of the hardware maker worth $1,451,000 after buying 45 more shares last quarter. 64.00% of the shares are held by hedge funds and other institutional investors.
A Wall Street analyst gives his opinion
A number of equity analysts have commented on NVDA shares. Wedbush upgraded NVIDIA shares from a “neutral” rating to an “outperforming” rating and raised its price target for the stock from $290.00 to $490.00 in a Thursday, May 25, report. Craig Hallum moved NVIDIA shares from a “hold” rating to a “buy” rating and set a price target of $500.00 on the stock in a Thursday, May 25 report. Oppenheimer raised his price target on NVIDIA stock from $350.00 to $420.00 in a Thursday, May 25 report. Citigroup raised its target price on NVIDIA shares from $420.00 to $520.00 and gave the company a “buy” rating in a research note on Monday. Finally, Daiwa Capital Markets upgraded NVIDIA shares from a “neutral” rating to an “outperforming” rating and raised its target price for the company from $408.00 to $475.00 in a Thursday, June 29 research rating. One financial analyst gave the stock a sell rating, six gave the stock a hold rating, thirty-one gave the stock a buy rating and one gave the stock a strong buy rating. According to data from MarketBeat.com, NVIDIA currently has a consensus rating of “Moderate Buy” and a consensus target price of $411.49.
Insider activity
In other news, EVP Debora Shoquist sold 23,084 shares in a trade that took place on Thursday, May 18. The shares were sold at an average price of $305.00, for a total value of $7,040,620.00. Following the completion of the transaction, the executive vice president now directly owns 139,860 shares of the company, valued at $42,657,300. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, available at this hyperlink. In related news, CFO Colette Kress sold 6,124 shares of the company in a transaction that took place on Tuesday, May 30. The shares were sold at an average price of $406.51, for a total transaction of $2,489,467.24. Following the completion of the sale, the CFO now directly owns 538,745 shares of the company, valued at $219,005,229.95. The sale was disclosed in a legal filing with the Securities & Exchange Commission, available at this link. Also, VPE Debora Shoquist sold 23,084 shares of the company in a transaction that took place on Thursday, May 18. The stock was sold at an average price of $305.00, for a total transaction of $7,040,620.00. Following the sale, the executive vice president now owns 139,860 shares of the company, valued at $42,657,300. Disclosure of this sale can be found here. Insiders have sold 368,271 shares of the company worth $147,115,953 in the past three months. Company insiders hold 3.99% of the company’s stock.
NVIDIA price performance
NASDAQ NVDA opened at $470.77 on Thursday. The company has a 50-day moving average price of $393.84 and a two-hundred-day moving average price of $289.12. The company has a current ratio of 3.43, a quick ratio of 2.79 and a debt ratio of 0.40. The stock has a market capitalization of $1.16 trillion, a price-to-earnings ratio of 245.19, a growth price-to-earnings ratio of 3.14 and a beta of 1.74. NVIDIA Co. has a 52-week low of $108.13 and a 52-week high of $480.88.
NVIDIA (NASDAQ: NVDA – Get a free report) last released its quarterly earnings data on Wednesday, May 24. The hardware maker reported earnings per share (EPS) of $1.09 for the quarter, beating the consensus estimate of $0.92 by $0.17. The company posted revenue of $7.19 billion in the quarter, compared to $6.52 billion expected by analysts. NVIDIA had a net margin of 18.52% and a return on equity of 23.63%. The company’s revenue was down 13.2% year over year. During the same period last year, the company posted earnings per share of $1.18. Analysts expect NVIDIA Co. to post EPS of 6.43 for the current year.
NVIDIA Dividend Announcement
The company also recently disclosed a quarterly dividend, which was paid on Friday, June 30. Shareholders of record on Thursday, June 8 received a dividend of $0.04. This represents an annualized dividend of $0.16 and a dividend yield of 0.03%. The ex-dividend date was Wednesday, June 7. NVIDIA’s dividend payout ratio (DPR) is currently 8.33%.
NVIDIA Company Profile
NVIDIA Corporation provides graphics, computing, and networking solutions in the United States, Taiwan, China, and around the world. The Company’s Graphics segment offers GeForce GPUs for gaming and PCs, the GeForce NOW game streaming service and related infrastructure, and solutions for gaming platforms; Quadro/NVIDIA RTX GPU for enterprise workstation graphics; vGPU software for cloud-based visual and virtual computing; automotive platforms for infotainment systems; and Omniverse software for creating 3D designs and virtual worlds.
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